OZ Minerals buys precious metals developer
Thomson Geer has advised Cassini Resources on its acquisition by OZ Minerals.
Firm: Thomson Geer (Cassini Resources and Caspin Resources); Gilbert + Tobin (OZ Minerals Limited).
Deal: Cassini Resources has been advised in relation to a scheme of arrangement which saw it become acquired by OZ Minerals.
The acquisition of Cassini by OZ Minerals also involved a simultaneous demerger of its Yarawindah Brook and Mount Squires assets via an in-specie distribution of shares in a wholly owned subsidiary of Cassini, Caspin Resources Limited (Caspin Resources), a statement from Thomson Geer explained.
Value: $76 million
Area: M&A, energy and resources
Key players: The Thomson Geer team on the acquisition and demerger schemes of arrangement was jointly led by partners Scott Gibson and Michael Ng and senior associate Christopher Seotis. Scott Gibson and special counsel Cameron Bill led the initial public offering of Caspin Resources, with assistance from graduate lawyer Ryan Gava.
Deal significance: Cassini Resources is described as a base and precious metals developer and explorer.
The acquisition of Cassini by OZ Minerals was implemented on 5 October 2020 and involved the demerger of the aforementioned Caspin assets.
“It was a pleasure to work in partnership with Cassini and its shareholders to complete this transaction,” Mr Gibson said.
“We are also thrilled for Caspin Resources and its shareholders in relation to Caspin’s exciting debut on the ASX.”